House Approves Bipartisan IRS Reform Bill
The House on April 9 approved by voice vote a bipartisan, bicameral IRS reform bill. The IRS bill, which now heads to the Senate, would redesign the IRS for the first time in over 20 years. IRS Reform The […] Read More
Bipartisan House Bill Aims to Fix “Retail Glitch”
A bipartisan House bill has been introduced that would fix a GOP tax law drafting error known as the “retail glitch.” The House bill, having over a dozen co-sponsors, is a companion measure to a bipartisan Senate bill introduced in […] Read More
Federal Tax News
IRS Clarifies Treatment of Refunds with New SALT Limits. The IRS has provided four examples of the interaction of the new limit on the deduction on state and local taxes (SALT) under Code Sec. 164(b)(6) with the tax benefit rule for […] Read More
SIMPLE IRA vs. Solo 401(k): Which Is Right for Your Small Business?
Small business owners have several options for their retirement plans. Two tax-smart and flexible alternatives are SIMPLE IRAs and solo 401(k) plans. If you’re eligible for these types of plans and you want to maximize your tax-deferred savings, which makes […] Read More